Nokia : H1 significantly ahead of expectations, a bit of a wait-and-see attitude on H2 and no upgrade of 2023 guidance
>Neutral rating maintained, target price raised to € 5.2 from € 4.2 - Following the release of Q2 2021 results that were well above expectations, we have raised our 2021 and 2022 forecasts by 45% and 26% respectively, and our target price to € 5.2 (vs € 4.2). However, we are maintaining our Neutral rating. After H1 numbers well above expectations, Nokia has upgraded its 2021 margin guidance, as previously announced, to a level very close to its 2023 targets, but witho...Nokia is an Internet and communications technology company based in Finland. Co.'s operations are focused on three businesses: network infrastructure software, hardware and services, which Co. offers through Networks; location intelligence, which Co. provides through HERE; and advanced technology development and licensing, which Co. pursues through Technologies. Co. maintains a global presence with operations and Researh & Development facilities located in Europe, North America and Asia, and sales in approximately 130 countries. Co. has an installed base of around 600 customers worldwide and these operators serve over 4 billion subscribers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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